A STUDY ON THE EFFECTIVENESS OF MICROFINANCE IN PROMOTING SUSTAINABLE LIVELIHOODS AMONG RURAL ENTREPRENEURS IN HINGNA
Keywords:
Microfinance, Rural Entrepreneurs, Empowerment, Financial Inclusion, Socio-economic Development.Abstract
This research paper investigates the impact of microfinance in strengthening and supporting rural entrepreneurs in Hingna. This research seeks to evaluate the efficiency of microfinance institutions (MFIs) in offering financial assistance to small-scale enterprises, fostering entrepreneurship, and improving socio-economic conditions. Data was collected through surveys and interviews with rural entrepreneurs who have benefited from microfinance schemes. The findings reveal that microfinance contributes significantly to business growth, employment generation, and financial independence among rural entrepreneurs. Nevertheless, obstacles like elevated interest rates, restricted access to capital, and deficiency in financial literacy restricts the optimal impact of microfinance. The paper concludes with recommendations for improving the reach and impact of microfinance in rural areas, to better support entrepreneurship and sustainable development.
